00:24Korea National Geospatial Information Corporation
00:47KOSPI's sell-off followed a report that a Chinese state-backed firm has started making DUV lithography equipment.
00:55That single report reignited fears that Washington's chip containment strategy is losing effectiveness.
01:03At the same time, the Bank of England's prudential regulator opened a review of prime brokerage exposure to SK Hynix,
01:11TSMC, and CXMT.
01:14Here's what the numbers show.
01:15KOSPI dropped 5.98%, or 360.42 points, closing at 5,663.24 on July 29th.
01:28Over two sessions, the index lost 1,092.51 points, 16%, with circuit breakers triggered on consecutive days for the
01:39first time on record.
01:40Foreign investors sold a net 1.19 trillion yuan, roughly $860 million, that day alone, extending net selling to 11
01:51.94 trillion yuan, about $8.65 billion over four sessions.
01:58CXMT surged 465.8% on its Shanghai debut, closing with a market cap of 3.28 trillion yuan, about
02:09$516 billion, surpassing ICBC as China's largest listed company.
02:16Wall Street banks, including Goldman Sachs and JP Morgan, are issuing margin calls to hedge funds overexposed to AI-linked
02:25equities, as the NASDAQ 100 fell 10% from its June peak.
02:30Goldman disclosed roughly 16% of its prime brokerage exposure sits in AI memory names.
02:37So what does this mean for global investors?
02:40Earlier, we said the BOE is now watching Korean ship stocks directly.
02:45That's because a Korea and Taiwan concentrated leverage buildup now looks systemic, not idiosyncratic.
02:53Position sizing in SK Hynix, TSMC, and CXMT-linked exposure deserves a second look, given the margin call cascade already
03:04underway.
03:05Whether this is a rotation or a genuine re-rating of the China chip independence trade will likely define positioning
03:12into the third quarter.
03:13That's today's AI-PRISM Global Investors.
03:18This episode was produced with AI assistance based on Seoul Economic Daily reporting and reviewed by a human editor.
03:26AI-PRISM is a Juan Ifra Award-winning series.
03:29We'll be back tomorrow.
03:31You've been listening to AI-PRISM from Seoul Economic Daily.
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